Major Driver In The French Fries Market 2024-2033: Rise In Ready-To-Eat Food Demand Fuels Market Growth
French Fries Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The french fries market has experienced substantial growth in recent years. From a value of $16.38 billion in 2023, the market is projected to increase to $17.45 billion in 2024, reflecting a compound annual growth rate CAGR of 6.6%. This growth during the historical period can be traced back to vibrant economic advancement in emerging markets, the proliferation of fast-food establishments, as well as a rise in disposable income.
What Is the Anticipated Growth Trajectory and Future Market Size of the Global French Fries Market?
In the coming years, the french fries market is projected to exhibit strong growth. The market is estimated to reach a substantial value of $21.8 billion by 2028, growing at a compound annual growth rate CAGR of 5.7%. This growth during the forecast period can be accredited to a rise in demand for ready-to-eat products, an increase in the youth population, the expansion of online food delivery services, and widespread urbanization. Furthermore, key trends to watch out for during the forecast period include escalating investments, the adoption of robotic technology in food preparation, a surge in offering healthier french fries options, product innovations, and a focus on introducing vegan-friendly french fries options.
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What Are the Key Drivers Propelling the Growth of the French Fries Market?
The mounting demand for ready-to-eat food is projected to catalyze the favourable growth trajectory of the french fries market. Ready-to-eat RTE foods, which are pre-cleaned, pre-cooked, wrapped, and ready to consume without any further preparation or cooking, are witnessing increasing popularity. The category includes salads, cooked meats, smoked fish, sweets, sandwiches, cheese, and precooked food intended to be served cold. French fries, a much-loved fast food and side dish made from thinly sliced, deep-fried potatoes, are often used as a ready-to-eat snack or side dish. This preference significantly contributes to the growth of the French fries market. In January 2022, for instance, India's Ministry of Commerce and Industry reported a 24% increase in ready-to-eat food exports to $394 million in the 2021-22 timeframe compared to 2020-21 April-October. What’s more, Japan’s retail sales in the packaged food sector amounted to a staggering $216.3 billion in 2022 as per Euromonitor projections. These indicators collectively reveal that the rising demand for ready-to-eat food is propelling the French fries market's growth.
To gain insights into key market trends and access the detailed forecast, download the full report: https://www.thebusinessresearchcompany.com/report/french-fries-global-market-reort
Which Industry Titans Lead the French Fries Market?
Several major companies are making their mark in the french fries market, including McCain Foods Limited, Lamb Weston Holdings, Inc, Farm Frites International B.V, JR. Simplot Company, The Kraft Heinz Company,Aviko B.V., Checkers Rally's, Albert Bartlett and Sons, Agristo N.V., Agrarfrost, Wow! Momo, Burger Singh, Box8, Bendotti/WA Chip, and Birds Eye. Other significant players include Kaida, Landun Xumei Foods Co. Ltd, Dicos, Zhucheng Dragon Fritopack Co., Ltd, Real Kungfu, Joyvio Group, Belaya Dacha Group, Miratorg Agribusiness Holding, Selkhozinvest, COMPRODCOOP SA, and Tomfrost. The market is further enriched by the presence of Intended Foods, Ore-Ida, Alexia Foods, Cavendish Farms, Pepsico, Agrícola Chapi, Frozen Express, Bem Brasil Alimentos LTDA, Del Ande Alimentos SAC, Freshky, Al Islami Foods, Al Kabeer Groupe, Wafrah for Industry and Development, McDonald's, Burger King, Hardee's, Johnny Rockets, Nature's Garden Pty Ltd, Sano Foods, The Nile Egyptian Co, OK Fruits LLC, and Maysa French Fries. These industry leaders play a crucial role in shaping the market landscape and spurring its growth.
What Significant Trends Are Emerging in the French Fries Market?
Product innovation is emerging as a defining trend in the french fries market, with major companies adopting new technologies to sustain their market position. Notably, in July 2022, The H. J. Heinz Company, a food processing giant based in the US, launched Spoon Made of Fries, devised to hold perfect dollops of sauce. These chips, designed like little spoons, neatly scoop up the right amount of Heinz tomato ketchup, making them an intriguing premise and a potential game-changer in the market.
How Is the French Fries Market Segmented?
The french fries market captured in this report can be segmented into –
1 By Product: Fresh, Frozen
2 By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online, Distributors, Direct Purchase
3 By End-Use: Food Service, Retail
Regional Insights: North America is the Dominant Player in the French Fries Market
In 2023, North America held the largest share in the french fries market. The report covers a broad spectrum of regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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